Mobile Streams(MOS,) a mobile content and data intelligence company, has launched its "sporting Art" division, securing a partnership with renowned Mexican artist César Menchaca, the founder and director of Menchaca Studio.
The artworks of the Menchaca Studio are becoming part of important collections in Mexico and abroad, exhibited in several museums in Mexico and USA, and traded in numerous well-respected auctions.
As per the agreement, Mobile Streams has the authorisation to produce digital versions of selected Menchaca Studio sports-related artworks that will be linked to the original pieces. In return, the company will provide Menchaca Studio with a minimal upfront royalty payment and a revenue share for any Menchaca NFTs sold through their platform.
Non-Fungible Tokens (NFTs) are unique digital assets stored on a blockchain, a type of distributed ledger. NFT ownership is securely recorded in the blockchain and can be transferred between owners, enabling their sale and trade.
Mark Epstein, CEO Mobile Streams plc, said: "We are delighted to announce the launch or our sporting art division and honoured to have César Menchaca as our first signing. He is quite simply the best Huichol artist in the world. We can't wait to collaborate with him and see his enormous talent expressed in the NFT world."
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The news today builds on Mobile Streams’ announcement earlier this month, where it entered into a commercial partnership with Bitso, a $2.2bn Latin American financial services provider specialising in cryptocurrency.
NFT artwork has grown exponentially in popularity since early 2021, with the sale of NFTs representing art pieces and artwork collections. More than 509,000 NFT artworks were sold in March 2021 alone, totalling more than $85 million in sales. NFT artworks' popularity, teamed with César Menchaca’s wide recognisability as a prominent promoter of Huichol Art on a global scale, should see Mobile Streams’ collaboration attracting significant attention within the NFT space.
Alongside this, the fastest growing sector within the NFT space is sports, positioning Mobile Streams’ sporting art division well within the market and underpinningstrong growth prospects. The global NFT market is projected to reach US$122bn by 2028, with more than US$17bn in sales in 2021 and US$35bn expected to be generated this year.
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